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प्रश्न
Explain the strategies to be adopted during the introduction stage of Product Life Cycle.
उत्तर
The following strategies may be employed to introduce the product successfully:
- Proper advertisement and publicity of the product, e.g., a money-back guarantee, may be offered to persuade people to try the product.
- Attractive gifts to customers as an 'introductory offer'.
- Selective distribution and attractive discounts to dealers.
- Removing technical and other deficiencies in the product.
- Skimming the cream pricing policy, i.e., higher price to recover heavy promotional costs during the initial period.
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संबंधित प्रश्न
Justify the following sentence for or against and give a reason:
Product differentiation is the main aim of branding.
Which stage of the product life cycle is marked by falling costs and rising revenues?
In which stage of the product life cycle, sales continue to grow but at a decreasing rate?
Which feature is pertaining to Introduction stage of PLC?
AB Visions Ltd. want to introduce a new variety of reading glasses where the vision can be adjusted according to the user's requirement. Explain the first two stages in the life cycle of this product.
What happens to a product in the decline stage of its life cycle?
How is the product life cycle advantageous?
Explain the strategies to be adopted during the growth stage of the Product Life Cycle.
What is the product life cycle?
"Introduction Stage in a product life cycle is not very risky." Justify either or against.
